Despite horror stories about bad home inspections, buyers are still blinded by low cost providers. And they end up paying a high price for that decision, a realtor warns.
Many home buyers are facing future headaches and hefty bills by choosing the below-cost home inspection service by “inexperienced and unqualified” personnel.
“It is still a huge issue,” says Justin Kua from Re/Max Realtron - Platinum Estates Team. “I have come across a lot of home inspectors who lack the training and experience to do a good job. I see a lot of buyers who have spent almost $500k on a house and yet do not want to pay the $450 for a good house inspection. Instead, they want to pay the $250 guy.”
David Sharman from Country Home Inspection tells CREW warns buyers that it is a case of “you get what you pay for” with such low rates.
“Many of the low-cost inspections cannot carry insurance so that is the risk for a buyer. I pay $2,600 a year in insurance but more importantly can identify the things that most unqualified and inexperienced inspectors cannot,” he says. “As soon as they say $200 or $250, you know that is the time to run.”
In light of so many horror stories, Ontario is expected to implement a licensed system within the next 18 months. This move, says Sharman, should weed out some of the bad players in the market. “A lot will not meet the minimum set of requirements which is great for the client.”
He warns home buyers to ask the right questions to ensure they are legitimate. “Inspectors do not need to have construction experience but I think it’s a bonus as they can identify the problem and come up with a solution,” he says. “Look for evidence of training and experience. Ideally, get a recommendation from someone else in the property industry.”
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